You are here: Home » International » News » Companies
Business Standard

With a net worth of $288.6 bn, Elon Musk now worth more than Exxon Mobil

Musk's net worth now makes him more valuable than Exxon Mobil Corp

Topics
Elon Musk | Exxon Mobil Corp | asset valuation

Bloomberg 

Elon Musk
Elon Musk

It’s just one more arresting data point amid a flurry of superlatives, but Elon Musk’s soaring net worth now makes him more valuable than

The wealth of the world’s richest person jumped to $288.6 billion Monday, according to the Bloomberg Billionaires Index.

The $36.2 billion gain followed a surge in Tesla Inc.’s stock price after Hertz Global Holdings Inc. ordered 100,000 cars.

Eclipsing the value of an old-economy bellwether like Exxon may seem like an inevitable milestone in Musk’s trajectory. But the oil company’s own share price has been no laggard this year.


Despite being overtaken by Musk at the start of 2021, Exxon has been on a tear since then. It outpaced the Tesla chief executive this year as oil and natural gas prices advanced. Still, that fossil-fuel rally, should it continue, may help spur even more sales of electric vehicles.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 26 2021. 07:32 IST
RECOMMENDED FOR YOU
.